Grayscale Investments has submitted an appeal to the US Securities and Exchange Commission (SEC) in the form of a registration statement on Form S-3 for the listing of Grayscale Bitcoin Trust (BTC) shares, falling within the Securities Act of 1933.

Typically, issuers file a registration on Form S-1 for their initial public offering of equity securities under the Securities Act. However, GBTC is eligible to use Form S-3 because it's a concise filing that references SEC disclosures and reports, as its shares are listed under the Securities Exchange Act of 1934 and meet the form's requirements.

Before GBTC can transition into an ETF and issue shares in a registered manner under Form S-3, approval is needed for the NYSE Arca’s 19b-4 application and SEC endorsement of Form S-3.

GBTC is poised to convert into an ETF upon receiving necessary approvals, and Grayscale pledges to collaborate closely with the SEC while refraining from reaching any conclusions or offering shares until consent is granted.

Grayscale Bitcoin Trust (GBTC) has also filed an appeal with the SEC for the offering, advising potential investors to review the prospectus in the registration statement and accompanying documents filed with the SEC, accessible on the SEC’s official website.

Investing in digital assets involves significant speculative risks, including potential partial or total loss of investments, and the information provided is for awareness purposes only and should not be considered as advice.